Financial institutions are on the front lines of the scam epidemic, yet the very tools designed to help them fight back — Sections 314(a) and 314(b) of the USA PATRIOT Act — fall short.

“We have the legal framework to do something good, but the lack of advancement in technology has made it not nearly as useful as it can be.” — Matt O’Neill

While scammers move money in real-time, information sharing in Section 315 relies on outdated technology and remains slow, cumbersome, and underutilized.

Operation Shamrock Founder Erin West moderates a discussion with banking and law enforcement experts about what works with 314(a) and 314(b), what doesn’t, and what can improve. Her guests:

• Matthew O'Neill, a former U.S. Secret Service agent, investigated financial crimes at the federal level.

• Donna Turner, a thought leader with 30 years of experience in financial services with Bank of America and Early Warning Systems

• Jim Hitchcock, vice president of fraud mitigation for the American Bankers Association, works daily with institutions navigating 314-compliance requirements.